Essar Ports

Essar Ports, which delisted in late 2015, will close 2017-18 with a pre-tax profit of about Rs 1,000 crore and is targeting to take it up to Rs 1,300 crore with the commissioning of new facilities, he said.

Market regulator Sebi Monday revoked the restrictions it had imposed on Essar Ports as well as its directors and promoters for not meeting the minimum public shareholding norms, as the company has now complied with the directions.

"The civil and engineering work is over. We are just waiting for an official go-ahead to formally commission the 20 million tonne per annum facility, which can happen within a few weeks," Essar Ports finance director Shailesh Sawa said here.

Essar Group promoter Shashi Ruia has stepped down from the Board of Essar Ports.
"Shashi Ruia has stepped down from the Board of the Company with immediate effect," Essar Ports said in a filing to the BSE

Ruias-promoted Essar Ports Thursday posted over five-fold jump in consolidated net profit to Rs 44.98 crore for the quarter ended December 31, 2011, largely due to increased realisations from its operations.